JPMorgan Chase & Co. Raises SpringWorks Therapeutics (NASDAQ:SWTX) Price Target to $68.00

SpringWorks Therapeutics (NASDAQ:SWTX) had its price target lifted by JPMorgan Chase & Co. from $64.00 to $68.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. Wedbush reiterated an outperform rating and set a $77.00 price objective (up previously from $75.00) on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. HC Wainwright reiterated a buy rating and set a $76.00 price objective on shares of SpringWorks Therapeutics in a research note on Wednesday, August 28th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $68.50.

SpringWorks Therapeutics Stock Performance

Shares of SWTX opened at $38.75 on Wednesday. The stock has a 50-day moving average of $38.19 and a two-hundred day moving average of $42.23. SpringWorks Therapeutics has a one year low of $18.00 and a one year high of $53.92. The stock has a market cap of $2.88 billion, a P/E ratio of -7.54 and a beta of 0.79.

SpringWorks Therapeutics (NASDAQ:SWTX) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($1.12) by $0.58. The firm had revenue of $59.73 million for the quarter, compared to analyst estimates of $34.42 million. During the same period in the prior year, the firm posted ($1.25) EPS. The business’s revenue was up 59732900.0% compared to the same quarter last year. Analysts predict that SpringWorks Therapeutics will post -3.34 EPS for the current fiscal year.

Hedge Funds Weigh In On SpringWorks Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. increased its stake in shares of SpringWorks Therapeutics by 47.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,183 shares of the company’s stock valued at $45,000 after purchasing an additional 383 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in SpringWorks Therapeutics in the 2nd quarter worth about $123,000. CANADA LIFE ASSURANCE Co boosted its holdings in SpringWorks Therapeutics by 20.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,465 shares of the company’s stock worth $220,000 after buying an additional 754 shares during the last quarter. SG Americas Securities LLC boosted its holdings in SpringWorks Therapeutics by 8.3% in the 1st quarter. SG Americas Securities LLC now owns 4,673 shares of the company’s stock worth $230,000 after buying an additional 358 shares during the last quarter. Finally, Financial Security Advisor Inc. acquired a new stake in SpringWorks Therapeutics in the 1st quarter worth about $246,000.

SpringWorks Therapeutics Company Profile

SpringWorks Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is OGSIVEO (nirogacestat), an oral small molecule gamma secretase inhibitor that is in Phase III DeFi trial for the treatment of desmoid tumors; and Nirogacestat, is also in Phase 2 clinical development as a monotherapy for the treatment of ovarian granulosa cell tumors (GCT), a subtype of ovarian cancer.